ACCA welcomes FRC Annual Report

United Kingdom 23 Jul 2013

ACCA shares the FRC’s commitment to ensure that investors and all those who rely on the services of finance professionals have confidence in the figures and reports produced, and that complaints made are dealt with effectively by regulatory bodies

—Peter Large, executive director - governance,ACCA

ACCA (the Association of Chartered Certified Accountants) has welcomed the 2012/13 annual report of the Financial Reporting Council (FRC), congratulating the FRC’s Chairman Baroness Hogg on her nine years of service to professional regulation and corporate governance

ACCA endorses the Chairman’s view that the FRC has made good progress in developing and promoting high standards of corporate governance, and is pleased to see in the Chairman’s report the continued mission to ‘help capital markets … function well.’

ACCA also welcomes the constructive and transparent nature of FRC’s oversight of the audit qualification and supervisory bodies and reiterates its commitment to work to ensure ACCA’s regulatory processes continue to be of an appropriate standard.

Peter Large, executive director - governance for ACCA, said: 'ACCA shares the FRC’s commitment to ensure that investors and all those who rely on the services of finance professionals have confidence in the figures and reports produced, and that complaints made are dealt with effectively by regulatory bodies.'

Concluding, Peter Large said: 'We also congratulate Baroness Hogg on her nine years of service at the heart of FRC, most recently as FRC chairman, during which time good progress has been made in corporate reporting and corporate governance, all of which can only benefit businesses and investors. We look forward to working closely with the FRC in the coming months and years.'